behavioural economics

Latvian translation: uzvedības ekonomika

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

English term or phrase:	Behavioural economics
Latvian translation:	uzvedības ekonomika

For term searches and specialty glossaries, please try the new GBK glossaries

00:55 Feb 7, 2011

English to Latvian translations [PRO]
Bus/Financial - Economics
Additional field(s): Business/Commerce (general)

English term or phrase: behavioural economics

Definition from The Economist:
A branch of ECONOMICS that concentrates on explaining the economic decisions people make in practice, especially when these conflict with what conventional economic theory predicts they will do. Behaviourists try to augment or replace traditional ideas of economic rationality (homo economicus) with decision-making models borrowed from psychology. According to psychologists, people are disproportionately influenced by a fear of feeling regret and will often forgo benefits even to avoid only a small risk of feeling they have failed. They are also prone to cognitive dissonance, often holding on to a belief plainly at odds with new evidence, usually because the belief has been held and cherished for a long time. Then there is anchoring: people are often overly influenced by outside suggestion. People apparently also suffer from status quo bias: they are willing to take bigger gambles to maintain the status quo than they would be to acquire it in the first place. Traditional UTILITY theory assumes that people make individual decisions in the context of the big picture. But psychologists have found that they generally compartmentalise, often on superficial grounds. They then make choices about things in one particular mental compartment without taking account of the implications for things in other compartments. There is lots of evidence that people are persistently and irrationally overconfident. They are also vulnerable to hindsight bias: once something happens they overestimate the extent to which they could have predicted it. Many of these traits are captured in PROSPECT THEORY, which is at the heart of much of behavioural economics.

Example sentence(s):

Behavioral economics blossomed from the realization that neither point of view was correct. Library Economics Liberty
Behavioral economics explains why we procrastinate, buy, borrow, and grab chocolate on Harvard Magazine
Economics orthodoxy may look down on behavioral economics, but it's the most important development in economics in a long time. The Christian Science Monitor.

Glossary-building KudoZ

This question was created by:

RominaZ

Argentina

This question is closed

uzvedības ekonomika

Definition:
Uzvedības ekonomika pēta, kā cilvēki pieņem ikdienas lēmumus, tā pārskata tradicionālos ekonomikas pieņēmumus un izmanto vietējus un laboratorijas eksperimentus, lai noskaidrotu cilvēku lēmumu faktisko pamatojumu.

Selected response from:

Laine Zunte
Portugal

Grading comment

4 KudoZ points were awarded for this answer

Summary of translations provided

5 +2

uzvedības ekonomika

Laine Zunte

Translations offered

10 hrs confidence:

peer agreement (net): +2

uzvedības ekonomika

Definition from European Union:
Uzvedības ekonomika pēta, kā cilvēki pieņem ikdienas lēmumus, tā pārskata tradicionālos ekonomikas pieņēmumus un izmanto vietējus un laboratorijas eksperimentus, lai noskaidrotu cilvēku lēmumu faktisko pamatojumu.

Example sentence(s):

ES patērētāju komisāre Meglena Kuneva šodien konferencē Briselē uzņēma augsta līmeņa akadēmiskos, uzņēmējdarbības un politikas ekspertus, lai runātu par to, kā uzvedības ekonomika var ietekmēt patērētājiem labāk pielāgotas politikas izstrādi. Uzvedības ekonomika ir salīdzinoši jauna, taču ātri augoša disciplīna, kurā apvienota ekonomikas un eksperimentālā pētniecība par uzvedību, lai uzzinātu un izskaidrotu, kādēļ patērētāji iepērkas tā, kā viņi iepērkas, kas ietekmē viņu pirkšanas lēmumus un kā šie lēmumi ietekmē tirgu. Lai uzlabotu Eiropas ekonomikas sniegumu un veicinātu konkurenci, ir nepieciešami par sevi pārliecināti patērētāji. Tomēr pašreizējā tirgus sarežģītība var ierobežot patērētāju spējas pieņemt optimālus lēmumus. Šodienas konferencē galvenā uzmanība tiks pievērsta piemēriem, kuros uzvedības ekonomika jau ir ļāvusi izstrādāt labāku politiku, kurā ir ņemta vērā šī sarežģītība, un dalībnieki tiks aicināti debatēt par to, kā uzvedības ekonomika var turpmāk palīdzēt izstrādāt ES tiesību aktus. Šis notikums varētu būt sākums arvien biežākai ar uzvedību saistītu instrumentu izmantošanai, lai uzlabotu politikas veidošanu Eiropā. - European Union
«Bailes zaudēt naudu ir plaši izplatītas un labi izpētītas uzvedības ekonomikā (behavioral economics), taču šķiet, ka šis ir tas unikālais gadījums, kad šādu baiļu nav vispār,» – izteicies Benedtto de Martino (Benedetto De Martino), Caltech praktikants un publikācijas par eksperimentu vadošais autors. - Apollo news channel

Laine Zunte
Portugal
Local time: 13:12
Native speaker of: Latvian
PRO pts in category: 8

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

Return to KudoZ list

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.

See also:

ProZ.com term search

Search millions of term translations

behavioural economics

Latvian translation: uzvedības ekonomika

Translations offered

KudoZ™ translation help

Your current localization setting

Select a language

behavioural economics

Latvian translation: uzvedības ekonomika

Translations offered

KudoZ™ translation help

You have native languages that can be verified

Your current localization setting

Select a language